Which of the following processes assess the likelihood of risk occurrences and their consequences using numeric probability assignments? A. Qualitative Risk Analysis B. Risk Identification C. Quantitative Risk Analysis D. Risk Response Planning

You are the project manager for a new website for the local zoo. You need to perform Qualitative Risk Analysis. When you've completed this process, you'll produce all of the following outputs except: A. Overall risk ranking for the project B. List of prioritized risks C. Inputs to other processes D. List of risks for additional analysis and management

You are the project manager for a new website for the local zoo. You need to perform Quantitative Risk Analysis. You'll use all of the following tools and techniques to accomplish this except: A. Data precision ranking B. Sensitivity analysis C. Decision tree analysis D. Interviewing

Which of the following tools and techniques shows the impacts of one decision over another as well as the probability and cost of each risk along a logical path? A. Simulation B. Decision tree C. Probability/impact risk matrix D. Sensitivity analysis

Which of the following describes the cost of quality associated with scrapping, rework, and downtime? A. Internal failure costs B. External failure costs C. Prevention costs D. Appraisal costs

Your hardware vendor left you voicemail saying that a potential snowstorm in the Midwest might prevent your equipment from arriving on time. She wanted to give you a heads-up and asked that you return the call. Which of the following is true? A. This is a secondary risk, which is an output of Risk Response Planning. B. This is a contingency plan, which is an output of Risk Response Planning. C. This is a risk, which is an output of Risk Identification. D. This is a trigger, which is an output of Risk Identification.

You are constructing a probability/impact risk rating matrix for your project. Which of the following is true? A. The PI matrix multiplies the risk's probability by the cost of the impact to determine an expected value of the risk event. B. The PI matrix multiplies the risk's probability scales, which fall between 0.0 and 1.0, and the risk’s impact scales to determine a risk score. C. The PI matrix multiplies the risk's probability by the expected value of the risk event to determine the risk impact and assign a risk score based on a predetermined threshold. D. The PI matrix multiplies the risk's probability scales and the risk's impact scales, which fall between 0.0 and 1.0, to determine a risk

All of the following strategies are tools and techniques of Risk Response Planning used to reduce or control risk except? A. Mitigation B. Simulation C. Avoidance D. Acceptance

Your hardware vendor left you voicemail saying that a snowstorm in the Midwest will prevent your equipment from arriving on time. You identified a risk response for this risk and have arranged for a local company to lease you the needed equipment until yours arrives. This is an example of which risk response strategy? A. Transference B. Acceptance C. Mitigation D. Avoidance

You are the project manager for an upcoming outdoor concert event. You're working on the procurement plan for the computer software program that will control the lighting and screen projections during the concert. You're comparing the cost of purchasing a software product to the cost of your company programmers writing a custom software program. You are engaged in which of the following? A. Procurement planning B. Sensitivity analysis C. Transference of risk D. Make or buy analysis

You are the project manager for an outdoor concert event scheduled for 1 year from today. You're working on the procurement plan for the computer software program that will control the lighting and screen projections during the concert. You've decided to contract with a professional services company that specializes in writing custom software programs. You want to minimize the risk to the organization, so you'll option for which contract type? A. Fixed price plus incentive B. Cost plus fixed fee C. Fixed price D. Cost plus incentive

You are the project manager for Heart of Texas casual clothing company. They're introducing a new line of clothing called Black Sheep Ranch Wear. You will outsource the production of this clothing line to a vendor. The vendor has requested a SOW. All of the following are true except: A. The SOW contains a description of the new clothing line. B. As the purchaser, you are required to write the SOW. C. The SOW contains the objectives of the project. D. The vendor requires a SOW to determine if they can produce the clothing line given the very detailed specifications of this project.

The project schedule is used to determine all of the following except: A. Cost estimates B. Activity start dates C. Float times D. Activity end dates

You are a project manager for Picture Shades, Inc. They manufacture window shades for hotel chains that have replicas of Renaissance-era paintings on the inside of the shades. Picture Shades is taking their product to the home market, and you're managing the new project. They will offer their products at retail stores as well as on their website. You're developing the project schedule for this undertaking and have determined the critical path. Which of the following is true? A. You calculated the most likely start date and most likely finish dates, float time, and weighted average estimates. B. You calculated the activity dependency, and the optimistic and pessimistic activity duration estimates. C. You calculated the early and late start dates, early and late finish dates, and float times for all activities. D. You calculated the optimistic, pessimistic, and most likely duration times and the float times for all activities.

Which of the following is true regarding the critical path? A. It should never be compressed. B. It allows for looping and branching. C. The critical path technique is the same as PERT. D. It's the duration of all tasks with zero float.